Tax Rebate Us 87a For Fy 2025 24. Received Tax Notice for Claiming Section 87A on STCG? Key Details Here But recently there has been a drastic change in income tax portal. Notably, no marginal relief is available if total income exceeds Rs 500,000, unlike the tax rebate under the new tax regime from AY 2024-25.
Rebate Under 87a of Tax Section 87a of Tax Act 87a Rebate for AY 202425 YouTube from www.youtube.com
The rebate amount to be allowed under Section 87A of income tax would change according to the tax regime and the financial year in FY 2023-24, the new rebate slab of tax regime will have to be revised taking into account changes that took place in slab rates.
Rebate Under 87a of Tax Section 87a of Tax Act 87a Rebate for AY 202425 YouTube
There is no change in the scope of rebate for those who file under the new regime in FY 2024-25 (AY 2025-26) The concept of marginal relief ensures that the additional tax payable on income exceeding ₹7,00,000 under the new tax regime does not exceed the actual income exceeding the rebate threshold. The rebate is applicable for all types of incomes except LTCG from equity
Rebate us 87A for AY 202324 Budget 2023 Old vs New tax regime YouTube. in FY 2023-24, the new rebate slab of tax regime will have to be revised taking into account changes that took place in slab rates. For new regime from FY 2025-26 (AY 2026-27) onwards, the rebate is applicable only for tax computed as per slabs and not for any special rate taxes
TAX REBATE UNDER SECTION 87A YouTube. Rebate u/s 87A for FY 2023-24 (AY 2024-25) Under both the old and new income tax regimes, the amount of the rebate under Section 87A for FY 2023-24 & FY 2022-23 [(AY (2022-23) & AY (2023-24)] has remained unchanged.However, from FY 2023-24 due to a change in the slab rates under the new tax regime, the rebate threshold is changed.Under the old tax regime, a resident individual with taxable. But recently there has been a drastic change in income tax portal.